[Comparative to Zaobao] MicroStrategy CEO: Tesla reduced the risk of listed companies buying Bitcoin; the crypto market soared, Tesla helped Bitcoin break a record high of 44,000 US dollars; CME traded more than 30 million US dollars on the first day of Taifang Futures

Blockchain news you need to know every morning:

[MicroStrategy CEO: Tesla Reduces Risk of Listed Companies Buying Bitcoin]

In response to the news that Tesla bought $1.5 billion in Bitcoin, MicroStrategy CEO Michael Saylor tweeted: “Tesla has reduced the risk of listed companies buying Bitcoin and has accelerated the digital transformation of the company's balance sheet. Financial managers are considering how to turn bad assets into the best performing assets”.

[Crypto market surged, Tesla helped Bitcoin break a record high of 44,000 US dollars]

The crypto market has surged in the past 24 hours. Bitcoin broke through a record high of $44,000, spurred by Tesla's announcement of entry. Cardano's ADA token and Boca's DOT token both rose by more than 10%, and the ADA market capitalization rose to fourth place. The sharding project Elrond's eGLD token is among the top 20 cryptocurrencies. The current total market capitalization of the cryptocurrency market is $1,331,954,873,909, the 24-hour trading volume is $305,937,878,968, and Bitcoin accounts for 61.60% of the market. In the past 24 hours, 18 of the top 20 cryptocurrencies by market capitalization have risen, and 91 of the top 100 cryptocurrencies by market capitalization have risen. The overall cryptocurrency market is trending upward. The top 3 increases were BitTorrent (125.26%), Terra (74.16%), and Elrond (40.10%). The top 3 declines were Celo (-5.12%), SwissBorg (-1.10%), and OKB (-0.55%).

[CME's trading volume exceeded US$30 million on the first day of the launch of Taifang Futures]

The first day of the Ethereum futures contract launched by the Chicago Mercantile Exchange (CME) on February 8 had a trading volume of more than 30 million US dollars. The market crash that some investors previously feared did not occur, and the spot price of Ethereum rose slightly. According to comparative data, Ethereum, the second-largest cryptocurrency by market capitalization, rose steadily after CME's Ethereum futures began trading, and surpassed 1,700 US dollars on Monday evening Beijing time. According to official CME information, the code for its Ethereum futures contract is ETH. It is settled in cash in US dollars according to CME's Ethereum Reference Exchange Rate (BRR). It is traded 5 days a week, and the trading time is 5 p.m. to 4 p.m. Central Time the next day. The value of an Ethereum futures contract is 50 times the ETH/USD reference exchange rate index, and the quotation unit is USD/ETH. As of press time, the February contract had sold 275 copies, the March contract had sold 84 shares, and the April contract had sold 1 copy. According to the current price of Ethereum, the total transaction volume has exceeded 30 million US dollars.

[Bill Miller plans to invest nearly $400 million in Bitcoin through GBTC]

Legendary investor Bill Miller is planning to buy the nearly $400 million Grayscale Bitcoin Trust (GBTC) through Miller Opportunity Trust. According to documents submitted to the US Securities and Exchange Commission on Friday, Miller Opportunity Trust plans to invest indirectly in Bitcoin through GBTC, and GBTC's premium level is currently at its lowest level since April 2019. Miller Opportunity Trust manages assets of $2.25 billion, and the fund plans to invest only 15% of its assets under management, or $300 to $400 million. On its official website, Miller Opportunity Trust prioritizes the airline, healthcare, and finance industries as its core investment positions.

[Bitwise submits ETF prospectus to SEC to track innovative crypto companies]

Crypto asset manager and index provider Bitwise has submitted a prospectus for a new exchange-traded fund (ETF) to the US Securities and Exchange Commission (SEC). According to the documents, the fund, called the Bitwise Crypto Innovators ETF, will track the performance of innovative companies in the crypto industry, which Bitwise defines as “companies that provide services and transactions in the economic field of processing crypto assets and distributed ledger technology.” According to this statement, these companies include trading platforms, custodians, and wallet providers, financial services companies that use cryptography, crypto miners and hardware companies, and “companies that own large amounts of crypto assets or otherwise generate revenue related to crypto assets or distributed ledger technology.”

[Bitcoins held by billionaire Winklevoss brothers may be worth $3.3 billion]

According to Decrypt, an article in the “New York Times” on April 13, 2013 revealed that the founders of the crypto exchange Gemini, billionaires Cameron Winklevoss and Tyler Winklevoss owned $11 million in 2013. At the time, the price was about $141 each. As the price of Bitcoin reached a record high, it is conservatively estimated that the bitcoins owned by the Winklevoss brothers have now reached 3.3 billion US dollars.

[Royal Bank of Canada: Apple should develop its own crypto exchange]

RBC Capital Markets (RBC Capital Markets) has released a new report saying that competition in the cryptocurrency exchange sector is “minimal” and that Apple should develop its own crypto exchange. Analysts believe that regulations make it difficult for US consumers to easily buy cryptocurrencies, and many exchanges go down during times of high trading volume. If Apple created an internal system that only allowed the transfer of cryptocurrencies between customers, it could solve the regulatory and KYC challenges of cryptocurrencies. It can also develop an open system using a Bitcoin wallet and the Strike or Bitcoin Lightning Network to reduce the cost of converting fiat money into cryptocurrency. The report also argues that Apple's development of a cryptocurrency exchange could reduce the possibility of a US ban on Bitcoin.

Author Amy Liu

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